Saturday, April 21, 2012

RBI to notify proposal allowing airlines to access foreign funds

New Delhi: The government on Thursday said it expects the Reserve Bank of India (RBI) to notify the budget announcement of allowing the cash-strapped Indian civil aviation sector to borrow up to $1 billion in external loans for a period of one year within seven days. “RBI is expected to issue a relevant circular or notification giving effect to the aforesaid budget announcement within seven days,” the Finance Ministry said in a statement.……………….

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